Canadian ETFs had the largest monthly net inflows of this year at $4.3 billion in May.
A National Bank report indicates that about half of that money went to iShares S&P TSX 60 Index ETF, which often accommodates large institutional flows. The remaining funds were spread among Canadian equity, fixed income and multi-asset ETFs.
The biggest gainers were Canadian equity ETFs with $2.6 billion. On the other hand, U.S. equity ETFs experienced slight outflows after four strong consecutive months of inflows. International equity ETFs lost $24 million in outflows and emerging market ETFs were hardest hit.
In addition, the pace of new launches started to pick up in May, states the report. Five providers launched a total 11 products including sectors like uranium, cyber security and extended technology.
A number of providers launched new ETF offerings in May.